An audit is the examination of the financial report of an organization - as presented in the annual report - by someone independent of that organization. The financial report includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other explanatory notes.
The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organization at a given date,
Audit quality is timeless and will always be necessary. Your audit should also provide you with insights that facilitate your adaptation to change. A sharp mind, a flexible methodology, and excellent audit technology come together to deliver superior audits from time to time. This is what sets us apart. A more focused approach enables a better audit. Audit quality is as important today as it was before. Aerosoft utilizes experienced professionals, a flexible methodology, and advanced technology for high audit quality, reducing the burden on your team and uncovering insights. Embracing the power of data, automating manual processes, and centralizing project management enables us to deliver a more focused audit—one that is customized to your business. Aerosoft audit is not only appreciated by our customers; It is also earning praise all around the industry.
Internal audits take place within your business. As the business owner, you initiate the audit while someone else in your business conducts it.
Businesses that have shareholders or board members may use internal audits as a way to update them on their business’s finances. In addition, internal audits are a good way to check in on financial goals.
Although there are many reasons you may conduct an internal audit, some common reasons include to:
A financial audit also referred to as a financial statement audit, is an objective evaluation of your company’s financial statements. They are usually conducted on an annual basis. While financial audits can be conducted internally (by an employee), most of the time, your stakeholders will want an audit from an independent body. As such, you will probably need to reach out to a Certified Public Accountant (CPA) firm to conduct your audit. Ultimately, the aim of a financial audit is to ensure that your financial records are an accurate representation of your organization’s financial performance.
